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Fly News Breaks for May 7, 2018
TPX
May 7, 2018 | 09:37 EDT
SunTrust analyst Keith Hughes lowered his price target on Tempur Sealy to $45 and kept his Hold rating after the company's Q1 earnings miss, saying that while international sales supported results, the non-mattress accounts continued to weaken. The analyst adds that a "substantial success" will be needed from the product launches this year and in 2019 to recapture historical growth rate levels. Hughes also warns that raw material inflation will likely remain elevated in the current quarter before leading to another price increase later in the year.
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